The bill cuts the individual income tax by a half percent through a period of years, one-half of one percent anytime state income increases by at least $150-million above the previous year’s income.

The bill also allows individual income tax deductions for some businesses.

The legislature will have a chance to override his veto before the end of the session. The House failed to override last year’s veto.

Nixon says the newest Republican tax cut bill is “irresponsible” and based on “discredited economics.” He has not said he’ll veto it. But his criticism leaves little doubt he will. He’s required to act soon enough that the legislature will have time to override. The legislature failed to override Nixon’s veto of last year’s tax cut bill.